18 Nov 2025 | 3 Mins Read
Nuvama sees 59% downside in this mining stock
Flipitmoney
Nuvama maintains a "reduce" rating on GMDC Ltd. with a ₹231 price target, implying a 59% potential downside. Nuvama lowered GMDC's EBITDA estimates by 10% and 15% for FY26 and FY27. Enterprise Value to EBITDA for FY27 and FY28 is "elevated" at 19 times and 15 times respectively, according to Nuvama.